notes about trading gold - Gold Strategy

in #trading5 years ago

XAUUSD - tradingview

indicators:
env envelope(5,1)
ma(50)

ma sets the trend. if price is above ma50 we are in uptrend. if is bellow, downtrend;

we need wait for a pullback and then we enter the position. that's it.

long:

  • trend is up 'cause price is above ma50.
  • wait for the pullback touch the down line of envelope.
  • look back for support and resistance in this area.
  • enter long.
  • set Stop Loss just below the low of the trigger bar (step 2).
  • Target Profit should be when the price reaches the up line of the envelope.

short:

follow the trend: